Chemung Financial Corp (CHMG) Correlation Distribution
Across 6,801 rolling correlation observations between Chemung Financial Corp (CHMG) and other NASDAQ-listed stocks, 56.3% are positive and 43.7% are negative. The most common correlation range is -0.1 to 0.0, and the average pairwise correlation is 0.081, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 4.7% and strong negative correlations (≤−0.7) for 0.9%.
- Total observations
- 6,801
- Mean correlation
- 0.081
- Most common range
- -0.1 to 0.0
- Positive pairs
- 56.3%
- Strong positive (≥0.7)
- 4.7%
- Sector
- State Commercial Banks
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 31 | 0.5% | |
| -0.8 to -0.7 | 30 | 0.4% | |
| -0.7 to -0.6 | 220 | 3.2% | |
| -0.6 to -0.5 | 219 | 3.2% | |
| -0.5 to -0.4 | 417 | 6.1% | |
| -0.4 to -0.3 | 416 | 6.1% | |
| -0.3 to -0.2 | 525 | 7.7% | |
| -0.2 to -0.1 | 525 | 7.7% | |
| -0.1 to 0.0 | 591 | 8.7% | |
| 0.0 to 0.1 | 591 | 8.7% | |
| 0.1 to 0.2 | 496 | 7.3% | |
| 0.2 to 0.3 | 495 | 7.3% | |
| 0.3 to 0.4 | 500 | 7.4% | |
| 0.4 to 0.5 | 500 | 7.4% | |
| 0.5 to 0.6 | 463 | 6.8% | |
| 0.6 to 0.7 | 462 | 6.8% | |
| 0.7 to 0.8 | 159 | 2.3% | |
| 0.8 to 0.9 | 158 | 2.3% | |
| 0.9 to 1.0 | 3 | 0.0% |
Frequently asked questions
What is the average correlation of CHMG?
Chemung Financial Corp (CHMG) has an average correlation of about 0.081 with other NASDAQ stocks, based on 6,801 pairwise observations.
Is CHMG positively correlated with other stocks?
Mostly yes — 56.3% of pairs are positive and 43.7% are negative. Strong positive correlations (≥0.7) make up 4.7%.
What is the most common correlation range for CHMG?
The most common range is -0.1 to 0.0. Weak correlations (−0.3 to 0.3) account for 47.4% of all pairs.
Explore the full interactive correlation distribution for CHMG.
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